The FTSE was back up at pre credit crunch levels in March, despite the Government’s delivery of the pre-Election Budget, suggesting growing confidence in the strength of economy.
With optimism returning, those with interest in foreign property, either as a second home or an investment, are now waiting for the right time to buy. The pound made gains against the euro and the US dollar in March and potential buyers will be watching these movements closely over the next few months, with interest likely to translate into a higher level of sales.
Ann Wright, International Development Manager said:
“Interest in international property has come on leaps and bounds since it took a hit in 2008 and this pent up demand now appears to be on the brink of converting into sales. Several signs are now indicating that the economy may have escaped a double dip and be stabilising in earnest and potential buyers are picking up this optimism.
“The pound may need to rally further before transactions levels can set off on a steady recovery, but buyers are certainly more willing to consider purchases in the established, favourite markets of Spain, France and the US. Similarly some appear to be waiting until after the General Election and the greater clarity that this should bring, but we are expecting international market activity to continue to grow over the course of the year.”
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